We have written news about Xiaomi venturing into the automobile industry before. Initially, Xiaomi planned to reveal its first-ever electric vehicle (EV) in 2024 but there's a new report in Sina Tech that the Xiaomi EV prototype may appear very soon. How soon? Well, sometime in August by Xiaomi founder Lei Jun himself, if that's true.

Today, Xiaomi just announced the corporation has completed a business registration of Xiaomi EV Company Limited. EV stands for electric vehicle and this officially marks Xiaomi's first debut and a milestone in the automotive industry.